Loomis Sayles & Co. L P Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Loomis Sayles & Co. L P acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the third quarter, Holdings Channel reports. The firm acquired 636,628 shares of the company’s stock, valued at approximately $33,353,000.

Several other large investors have also recently added to or reduced their stakes in RYTM. CWM LLC increased its position in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the period. ORG Partners LLC purchased a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth about $51,000. ORG Wealth Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at about $63,000. Quest Partners LLC boosted its stake in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after buying an additional 1,391 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after buying an additional 391 shares in the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 17,501 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $49.65, for a total value of $868,924.65. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $148,950. This represents a 85.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pamela J. Cramer sold 4,099 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $50.03, for a total transaction of $205,072.97. Following the transaction, the insider now owns 13,500 shares in the company, valued at $675,405. This represents a 23.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,181 shares of company stock valued at $8,359,750 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

RYTM has been the subject of a number of recent research reports. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. Bank of America increased their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $69.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday. Finally, Guggenheim initiated coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $62.30.

Rhythm Pharmaceuticals Stock Down 0.0 %

RYTM opened at $59.92 on Tuesday. The company has a 50 day moving average of $53.35 and a two-hundred day moving average of $47.28. Rhythm Pharmaceuticals, Inc. has a 52-week low of $31.52 and a 52-week high of $68.58. The company has a market cap of $3.68 billion, a P/E ratio of -13.84 and a beta of 2.09.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the prior year, the business earned ($0.76) EPS. Rhythm Pharmaceuticals’s quarterly revenue was up 47.6% compared to the same quarter last year. Research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.